The Role of Microfinance to address Poverty Alleviation and Women Empowerment in Kerala, India

Abstract

The alleviation of poverty and the empowerment of women are crucial elements for fostering a harmonious and integrated family life, as well as driving the economic advancement of a nation. Across the globe, various countries have taken proactive steps to promote women's empowerment and combat poverty. The empowerment of women involves improvements in various aspects of a woman's life, such as personal, economic, and social dimensions. Microfinance has become an effective strategy for addressing these challenges in several nations, including India. Kudumbashree is a notable example of a successful microfinance institution in the Indian state of Kerala. This research seeks to evaluate how Kudumbashree has impacted and addressed socio-economic obstacles concerning the empowerment of women in Kerala.A statistical analysis, assessing the hypothesis that Neighbourhood group (NHG) has positively influenced to improve the social and personal aspects of women’s life proved to be acceptable. The results of this study indicated that as women get empowered the economic and social challenges are mitigated.